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Question 14Suppose you are given the following information for the Legendsof Clash Co.Debt: 18,000 bonds outstanding, with a facevalue of $1,000. The bonds currently trade at 112.5% of par value,and have 15 years to maturity. The coupon rate equals 4%, and thebonds make semi-annual coupon payments.Common stock: 925,000 shares of common stockoutstanding; currently trading for $56 per share. Beta equals1.45.Preferred stock: 150,000 shares of preferredstock outstanding; currently trading for $97.5 per share; pays a$8.25 dividend every year.Market: The expected return on the marketequals 10%, and the risk free rate is 1%.Tax rate: 30%Calculate the weight of the common stock in the capitalstructure. (Enter percentages as decimals and round to 4decimal places)